The morning news. [volume] (Savannah, Ga.) 1887-1900, 1887-06-22
FIDELITY BANK CLOSED.
Affected by the Wheat Deal and a
Receiver is Appointed

receiver Is appointed
CINCINNATI, O., June 21-The Fidelity
National Bank was closed this morning by an
order of the government through its repre-
sentative, Eugene Powell. A meeting of
the board of directors was called at Z o'clock
this morning, and is now in session. No
means of ascertaining their action exists.
The doors of the bank are closed and the
policemen within and without guard the
entrance against everybody except persons
having business with the safe deposit de
partment of the bank The sidewalks in
the vicinity are lined with people
who are quietly discussing the situation
without even knowing that the government
bank examiner has been here, or that the
doors are closed by government authority.
No notice has been posted and the only in
formation given at the door is that the doors
are absolutely closed to everybody except to
persons having property an the safe deposit
vaults
HIS BOOK AT LEAST.
One irate depositor created d scene by
forcing himself halfway into the door where
he received a heavy blow in the face from
some one inside, and was finally taken
away. He said he had left some money and
his bank book in there yesterday. and he
wanted at least his book
CLOSED DOORS TO ALL
Nothing at all is known yet Of the action
Of the reorganization as suggested, by leav-
ing cut three officers the vice president and
general manager, the cashier and assis-
tant cashier. 1t will be the duty of the di-
rectors to make this change, if it is made at
al. One of the officials of the bank this
morning assured a friend, who had entrance
to the safe deposit vaults, that the bank
would pay every dollar it owed. The gen
sral feeling has been that the bank is strong
enough. but a feeling of mistIust
has become engendered, from various
causes, against few of the officers
SUGGESTION OF RECEIVER
LATER.-It is now stated that the direc-
tors have determined upon the appointment
of receiver to take charge of the business,
and an effort is being made to obtain one.
Mr. Griffiths, of the Citizens National, has
been suggested, but it is thought he will not
accept.
At the meeting of the directors this morn
ing Bank Examiner Powell announced that
owing to the impairment of the banks
resources the government would take charge
Of it and would appoint a receiver to
wind up the business. 1t is said unofficially
that the alternative was given of continuing
In business by reorganization which
would leave out Vice President Harper
Cashier Baldwin and the Assistant Cashier,
Ben. E. Hopkins, but that the directors We're
unwilling TO take the risk of run follow
ing the interference of the government.
The outcome, however. was the appoint
meat of John X. Deca mp, Vice President of
she Metropolitan National Bank, as Re-
,eivcr, and he was placed in charge of the
banks affairs. 1t is now stated
hat the clearing house settlements
shown an unusual drain on their resources
Besides many of the banks have kept their
checks out of the clearing house as a favor.
There are numerous runlors afioat concern
,erning the cause of the action of the bank
examiner Vice President Harper, who
sas borne the heavy strain for the past
week is much distressed this morning. He
ells himself ruined man and is in a high
tate of excitement. A conservative direc-
or says it is his opinion that the depositors
viii get their money in full
HARPER & CO. CONDITION.
E. L. Harper, Vice President of the Fl
ielity National Bank, who is also senior
member of the firm of e. L. Harper 6; CO.,
las made an individual assignment. The
irm of E. l.. Harper a. Co. also assigned.
These failures are the result of the closing
Of the Fidelity Bank. Ten days ago Harper
aid of the condition of his firm that it was
worth over 50, 900, 900, most of it being his
own property. He had then 100000
ltock in the Fidelity National Bank and
owned per cent. of the stock of Fidelity
Safe and Deposit Company, besides owning
controlling interest in Swift's Iron and
Lteel works and the Riverside rolling mill.
Later in the day f. L. Harper made an as
hgnment of his rolling mill in Newport,
KY. An estimate of the liabilities in all
he interests of r. i. Harper is approach
ng $4,000, 900, the assets, counting his bank
took at par, are about $1,000, 900.
THE BANKS LIABILITIES.
WASHINGTON, June Eft is stated here
hat the liabilities of the Fidelity National
Bank of Cincinnati, exclusive of the capital
took, are about $500. 900. The individual
deposits amount to 81 $4,000.